HSBC downgrades India for the second time in a month, explains ‘underweight’ stance
Brokerage firm HSBC has downgraded Indian equities to “underweight”, in its latest note on Thursday, April 23, less than a month after downgrading it to “neutral” from “overweight” on March 31 this year. The firm has cited a less-attractive “risk-reward” as its rationale behind the downgrade. “The ongoing Middle East conflict has refocused attention on…
